India Microfinance

ICICI opens 1 lakh bank accounts under PMJDY

ICICI Bank announced yesterday that it had opened one lakh savings accounts under Pradhan Mantri Jan Dhan Yojana (PMJDY). ICICI Bank is India’s largest private sector bank with a branch network of more than 3700 branches around the country.

The bank conducted more than 1100 camps across it’s various branches in cities and towns to promote PMJDY. ICICI bank also roped in it’s Business Correspondents who opened accounts for it in Villages across India.

The basic savings bank account opening procedure was simplified for PMJDY and made paperless. Bank accounts opened were linked to Aadhaar Unique Id and account holders were issued passbooks and a Rupay Debit Card with accident insurance.

Financial Literacy Campaign by ICICI

To educate new customers , the bank distributed comic books and displayed messages through audio/visual mediums at all it’s branches. This financial literacy campaign introduced basic banking concepts to customers such as the benefits of regular savings, features of fixed deposits, transfer of money through mobile banking etc.